According to the guidance of the State Foreign Administration (SAFE), Deutsche Bank (China) Co., Ltd. It has implemented the new framework of foreign currency liberation on its branches in Shanghai, Beijing and Guangzhou.
Safe’s “1+6” box rationalize foreign currency regulations, making the most optimized and foreign currency more effective for multinational companies in China.
By consolidating various existing facilitation measures in the new regulatory structure, the bank further strengthened the standardization and consistency of foreign currency payment work.
For large multinational companies with Treasury central models, the new framework offers an approach that changes the game to cross -border payments and FX conversions across China.
By adopting this framework, Deutsche Bank can offer some benefits to its customers, such as:
- A consolidated, effective and rationalized model for cross -border payments and FX conversions throughout China.
- Seamless transition from previous procedures, minimizing the disorder.
- Reducing the cost of compliance and the help of organizations gain more than regulatory liberation.
- Enhanced liquidity management.
Rose Zhu, Managing Director of Deutsche Bank China, said:
- “The application further enhances our ability to provide local opportunities for execution, risk control and compliance for our multinational customers. It will help them manage the cross -border functions and functions of Treasury in China more effectively.
The Department of Economics and Accounting in Carl Zeiss (Shanghai) Co., Ltd. commented:
“As a German company with a long -standing presence in the Chinese market, we warmly welcome the development of the new foreign currency liberation program of Deutsche Bank.
As part of the new framework, eligible companies can complete cross -border transactions by submitting simple payment instructions to the bank, with the processing times reduced from several days in a matter of minutes. This significantly improves liquidity management and operating speed.
For transactions that continue to require document support, Deutsche Bank China uses the industry’s top electronic documentation platform to automate submission, matching and verification processes. This significantly reduces recovery times and further enhances the effectiveness of cross -border exchange operations.